Institute for OneWorld Health nominated for the 2004 World Technology Awards

08/13/04

San Francisco, Calif. Aug. 16, 2004 The Institute for OneWorld Health, the first nonprofit pharmaceutical company in the U.S., announced today that it has been nominated for this year's World Technology Awards in the category of Health & Medicine. The award is sponsored by the World Technology Network (WTN) and held in association with Nasdaq, Microsoft, TIME magazine, Science magazine, and CNN.

Nominees for the World Technology Awards are selected by their peers in recognition of innovative work that is deemed likely to have long-term significance. The 20 award categories range from biotechnology, space and energy to ethics, design and entertainment. Winners will be announced on Oct. 8 at the World Technology Awards gala ceremony at San Francisco City Hall following the two-day World Technology Summit, which brings together more than 700 WTN members representing more than 55 countries.

"We are honored to be recognized so highly for our work in drug development to address global health inequities," stated Victoria Hale, Ph.D., Founder and CEO of OneWorld Health. "We are gratified by the confidence our peers have in our ability to deliver on our goal to provide affordable new medicines for people in the developing world." OneWorld Health is in the final stages of a clinical trial to develop a new cure for visceral leishmaniasis (VL), a parasitic disease that kills approximately 200,000 people each year, mostly in the Indian subcontinent. The company will seek regulatory approval in India next year, and finalize distribution plans to make the drug, paromomycin, an affordable, safe therapy to cure VL.

The Institute for OneWorld Health, the first U.S. nonprofit pharmaceutical company develops new, affordable medicines for infectious diseases that disproportionately affect people in the developing world. OneWorld Health applies its entrepreneurial business model with a staff of experienced pharmaceutical scientists who identifies promising leads and drives development from pre-clinical studies to clinical trials through regulatory approval. The Institute for OneWorld Health, headquartered in San Francisco, Calif., is a tax-exempt 501(c) (3), U.S. corporation (www.oneworldhealth.org).

The World Technology Network is a London-headquartered organization that was created to "encourage serendipity" - happy accidents - amongst those individuals and companies deemed by their peers to be the most innovative in the science and technology world. WTN also publishes "World Technology Intelligence, a collection of insights-from-the-innovators, largely written by and about current WTN members, as well as "World Technology Reports" on more focused topics of interest. Central events in the WTN calendar include the annual World Technology Summit and World Technology Awards - the culmination of a global judging program through which new members are nominated and selected and by which the network grows and is refreshed. For more information please visit www.wtn.net

Source: Eurekalert & others

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